Main to remember
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The configurations of the XRP technical diagram converge on the objective of $ 6.
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The CVD Spot Taker remains positive, suggesting the confidence of buyers.
Several XRP price graphics (XRP) flash several bullish signals, which suggests that a $ 6 rally is possible in the coming months.
XRP Symmetrical Triangle Breakout Target $ 6
Cointelegraph Markets Pro and TradingView data show XRP trading above a symmetrical triangle on the daily graphic, as shown below.
The price must end above the eight-year summit at $ 3.66 to continue the upward trajectory, with a measured target of $ 6.03.
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Such a decision would bring the total gains to 75% of the current level.
“XRP came out of the symmetrical triangle and struck a new ATH!” said Pseudonymous Trader Binance Killers in a post X on Saturday, adding:
“The price now retains the escape zone; a rebound confirms the bullish momentum.”
XRP Bull Flag Eyes Price $ 5.80 Next
The four -hour table shows that XRP exchanges with a bull pennant, with the price resistance of the higher trend line of the model at $ 3.46.
A candlestick will close above this level will erase this route for the rise of XRP towards the lens of the Taurus pennant at $ 5.80, which represents an increase of 67% compared to the current price.
A bull pennant is a bullish continuation model in the technical analysis, forming a small symmetrical triangle after a strong increase in prices, signaling consolidation.
It is generally resolved with an ascending break, continuing the initial upward trend.
The CVD XRP Spot Taker shows buyers control
The 90 -day cumulative volume Delta (CVD) shows that purchases (Taker Buy) have become dominant again. The MCV measures the difference between the purchase and sale of volume over a period of three months.
Since the beginning of June, the pressure on the request has dominated the order book, the XRP / USD pair reaching multi -year summits greater than $ 3.66 on July 18.
The positive MCVs (green bars in the graph below) indicate optimism among bullish merchants anticipating other price increases.
If the MCV remains green, this means that buyers do not retreat, which could prepare the ground for another wave of movement up, as seen in the previous bull cycles.
The above graph suggests that more purchase orders are placed on the market than sales orders, despite 99% of XRP holders in current prices. This suggests a sustained demand despite the last rally, which puts XRP in a good position to continue climbing.
As Cointelegraph has reported, other graphic techniques and indicators suggest that the complete parabolic phase of XRP has not completely started, strengthening the potential of Altcoin to move higher in the coming weeks.
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
